Portfolio:
This shows the number of portfolios you hold. Portfolios can be constructed from Offshore Mutual,Offshore Insurance,Global ETFs and cash. Holdings and acquisition costs can be recorded so that profits/losses can be calculated. These can be calculated in terms of a number of base currencies. Overall portfolio values, as well as portfolio constituents, can be made the subject of alerts.

Watchlist:
You have one watchlist, and this shows you the number of items currently stored in the watchlist. Items stored here do not have holdings records, so this list simply monitors the price of items held, which can also be subject to alerts

Funds Basket:
This is designed to be a temporary collection of items selected by you for further analysis in the tools section. Items can be subsequently transferred from the Basket to the Watchlist or Portfolio.

The study, ‘Private Banking After The Perfect Storm’, by New York and London-based management consultancy Booz & Co – also notes that private banks will need to adapt their business models to cater for this new world.

The research, based on some 140 in-depth interviews with senior private bankers around the world, concluded that for the next few years emerging markets will lead the industrialised world in returning to pre-crisis growth rates.

“Emerging markets are expected to become more politically stable, which will encourage their HNWIs to keep their wealth increasingly onshore,” said Booz, which defines HNWIs as having more than $1m in investible assets.

Nearly 3.6 million of the global HNWIs are expected to live in the Asia/Pacific region, up from 2.6 million in 2008, the report noted.

Another finding of the researchers was that a crackdown on undeclared assets is forcing offshore private banks to come up with new ways of catering for their HNW customers.

Faced with increased scrutiny of offshore accounts by tax authorities, especially those of G20 countries, private investors have started to repatriate previously undeclared offshore funds, it notes.

“Offshore private banks will need to create new strategies to play in a ‘declared world’, and private banks heavily dependent on un-declared assets might find themselves without a viable business model sooner rather than later,” according to Booz.

This story has been supplied by International Adviser, to subscribe click here.

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